Yahoo claims Icahn has no credible plan for company

SAN FRANCISCO (MarketWatch) -- Yahoo Inc.
YHOO, +0.85%
on Friday responded to Carl Icahn's latest letter by pointing out that not only is Icahn's understanding of its retention plan "inaccurate" but that he has no credible plan to operate the Internet company. "We believe that Mr. Icahn's suggestion that we cancel our retention plan would have a destabilizing impact on Yahoo! and would clearly not be in the best interests of our shareholders," said Yahoo in a statement. Yahoo also dismissed Icahn's suggestion for it to publicly name a price to see if Microsoft
MSFT, +1.57%
will revise its previous offer as being "ill-advised." However, it again reiterated that it is open to any deal, including a sale to Microsoft, if it is in the interests of its shareholders. Icahn has said in his letter that if his proxy campaign succeeds, he would replace Jerry Yang with "a talented and experienced CEO."

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